Adams Natural Resources Fund Inc. Increases Stake in EQT Co. (NYSE:EQT)

Adams Natural Resources Fund Inc. increased its holdings in EQT Co. (NYSE:EQT) by 63.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,300 shares of the oil and gas producer’s stock after purchasing an additional 34,700 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in EQT were worth $4,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after buying an additional 20,700,921 shares during the last quarter. State Street Corp grew its stake in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC raised its position in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in EQT during the 3rd quarter valued at about $97,979,000. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 1.6 %

Shares of NYSE:EQT opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm has a market capitalization of $31.60 billion, a PE ratio of 132.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The firm’s 50-day moving average is $51.25 and its two-hundred day moving average is $44.12. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.19%. EQT’s dividend payout ratio (DPR) is 157.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Piper Sandler upped their price target on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.50.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.